Big-data firm Palantir revealed it lost more than half a billon dollars in each of the last two years as it prepared to go …
Big-data firm Palantir revealed it lost more than half a billon dollars in each of the last two years as it prepared to go public. The secretive data-mining titan co-founded by tech tycoon Peter Thiel pulled back the curtain on its finances in a Tuesday filing for a direct listing that showed net losses of about $580 million in 2018 and 2019. The red ink was nothing new for Palantir, which admitted in the filing that it has racked up losses every year since its inception in 2003. The Denver-based company lost another $164 million in the first six months of 2020 on revenues of about $481 million, though that was an improvement from the $280 million loss and roughly $323 million in revenue recorded in the same period last year.
